{"id":132740,"date":"2024-07-09T18:00:50","date_gmt":"2024-07-09T15:00:50","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=132740"},"modified":"2024-07-09T15:21:19","modified_gmt":"2024-07-09T12:21:19","slug":"bitcoin-continues-to-struggle-here-are-3-factors-that-could-spark-a-price-recovery","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-continues-to-struggle-here-are-3-factors-that-could-spark-a-price-recovery\/","title":{"rendered":"Bitcoin Continues to Struggle – Here Are 3 Factors That Could Spark a Price Recovery"},"content":{"rendered":"

According to recent analysis, Bitcoin<\/a><\/strong> may have hit a local low after dropping to $53,219 on July 3. This decline was driven by fears of substantial BTC sell-offs from Mt. Gox creditors and the German government.<\/p>\n

However, Bitcoin managed to rebound over the weekend, climbing back above $58,000. Bitfinex analysts interpreted weekend data as indicating a potential stabilization point for Bitcoin, despite Mt. Gox still needing to distribute a significant portion of its Bitcoin holdings to creditors.<\/p>\n

Three key factors were highlighted by analysts as potential catalysts for a Bitcoin recovery in the near term; the Short-Term Holder Profit Ratio (SOPR), perpetual futures funding rates and gap between implied and historical volatility.<\/p>\n